About The Broker






Featured Listings

Local Market Statistics

real-time real estate market research



Virtual Tour Inventory WidgetGet Adobe Flash Player

__________________


eNewsletter Sign Up



Mortgage Calculator


Local Resources

Categories

Archives

Low Inventory of Homes for Sale Plagues Many Markets

Low Inventory of Homes for Sale Plagues Many MarketsLow Inventory of Homes for Sale

The low inventory of for-sale homes is creating a seller’s market throughout the country.

“Buyers and agents are literally waiting for the next house,” says Rick Turley, president of Coldwell Banker Residential Brokerage for the San Francisco Bay Area.

The supply of existing homes for sale reached nearly an eight-year low in January, according to the National Association of REALTORS. Nationwide, there is a 4.2-month supply of existing homes for sale.

A more balanced market with a six-month supply will occur when home prices rise another 20 percent, says John Burns, CEO of John Burns Real Estate Consulting. Such an increase would then lure sellers to match demand coming in from renters and investors, and the rise in prices will also lead to more home building, Burns says.

Still, a return to healthy inventory levels could be years off, some say. “Many home owners can’t afford to sell because they don’t have enough equity to put into buying another house — or would have to write a check to sell,” USA Today reports. “The supply of distressed houses for sale is thinning as the foreclosure crisis recedes, especially in some states. Home building, while improving, is still at low levels. And, after years of holding on, few home owners want to sell when prices are just coming off the bottom, REALTORS say.”

Source: “Home sellers are scarce as spring buyers stir,” USA Today (Feb. 26, 2013)

I hope this information is useful to you. Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 2 Comments »

Aventura Residential Inventory

Aventura Residential Inventory

November 2008 – November 2010

Aventura Residential Inventory Nov 2008 - Nov 2010

Properties for sale are properties where no current sale contract exists; pended properties are properties in which a contract for sale has been executed, but not yet closed.

This graph is based in whole or in part on data supplied by the Realtor Association of Miami or its Multiple Listing Service.

For more information contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Aventura Residential Inventory

Aventura Residential Inventory

Aventura Facts and Trends

Homes for sale are properties where no current sales contract exists.  Pended properties are those in which a contract for sale has been executed, but not yet closed.

* This representation is based in whole or in part on data supplied by the Realtor Association of Miami-Dade County or its Multiple Listing Service, Realtor Association of Greater Miami and the Beaches, Realtor Association of Greater Fort Lauderdale and Northwestern Dade Association of Realtors.

For more real estate news and information please contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Copyright © 2008 Whats The Point of Aventura?     Log in     Design by Real Estate Tomato     Powered by Tomato Blogs



Michael Solovay on Zillow